Disability Insurance
We believe that illness or injury should not prevent you from providing for your family. Our plans replace your income and enable you to return to work when you are ready, not just because you need the income.
Disability Insurance
DISABILITY INSURANCE
Disability insurance is a type of insurance policy that provides financial protection in case of unexpected illness or injury that renders a person unable to work. This coverage can help replace lost income and provide financial stability during a time when the person is unable to work due to a disability.
There are two main types of disability insurance policies: short-term disability insurance and long-term disability insurance. Short-term disability insurance provides coverage for a temporary disability, typically for a period of up to six months, whereas long-term disability insurance provides coverage for an extended period of time, usually until the person is able to return to work or reaches retirement age.
Disability insurance policies can be offered by employers as a part of their employee benefits package, or individuals can purchase their own policies. The coverage and benefits of disability insurance policies vary depending on the specific policy and provider. Some policies offer additional features such as cost-of-living adjustments or future purchase options, which allow policyholders to increase their coverage as their income increases.
Overall, disability insurance is an important financial tool for anyone who relies on their income to maintain their standard of living. This coverage can provide crucial financial protection in case of unexpected illness or injury, giving policyholders peace of mind and financial stability during a difficult time.
BUSINESS OVERHEAD EXPENSE
Business Overhead Expense (BOE) Insurance is a type of insurance policy designed to help cover the ongoing expenses of a business in the event that the owner becomes disabled and is unable to work. This coverage can provide protection for expenses such as rent, utilities, salaries, and other necessary business expenses.
BOE Insurance is important for small business owners who rely heavily on their income to maintain their business operations. This coverage can help ensure that the business can continue to operate while the owner focuses on their recovery, without worrying about the potential financial impact of their disability.
BOE Insurance policies typically provide coverage for a specific period, such as 12 or 24 months, and the policy may include additional coverage options such as a waiting period, elimination period, and coverage limits. Business owners should carefully consider the terms and conditions of the policy, as well as the cost, to determine if it is the right fit for their business needs.
In summary, Business Overhead Expense Insurance is an important financial tool for small business owners to ensure that their business operations can continue in case of unexpected disability. It provides peace of mind that, in the event of a disability, their business can continue to operate while they focus on their recovery.
KEY PERSON
A key person is an asset to a company, but their sudden absence due to unforeseen circumstances like death, disability, or illness can severely impact operations and finances. Key person insurance compensates for financial losses incurred due to the loss of a key employee, covering costs like finding a replacement or loss of revenue. It’s an essential risk management tool that provides financial stability and ensures business continuity, helping businesses thrive even in unexpected events.
BUY/SELL
Buy-Sell Disability Insurance is an important type of insurance policy designed to protect the ownership structure of a business in case one of the owners becomes disabled and is unable to work. This coverage is essential for businesses that rely on the expertise and contributions of their owners to operate successfully.